Agencies that provide funds to governments may stipulate that the audit be conducted in accordance with generally accepted government auditing standards (GAGAS).

Question

Quizplus · Accepted Answer

This statement is true. Many funding agencies, such as the US Government Accountability Office (GAO), require audits to be conducted in accordance with GAGAS to ensure the proper use of public funds.

Agencies That Provide Funds to Governments May Stipulate That the Audit